Marriott International, Inc. (NASDAQ:MAR) Shares Sold by Parnassus Investments LLC

Parnassus Investments LLC cut its holdings in shares of Marriott International, Inc. (NASDAQ:MAR) by 6.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,203,229 shares of the company’s stock after selling 147,151 shares during the period. Parnassus Investments LLC’s holdings in Marriott International were worth $614,569,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Hopwood Financial Services Inc. acquired a new stake in shares of Marriott International during the 4th quarter valued at about $25,000. Bell Investment Advisors Inc grew its position in shares of Marriott International by 112.2% during the 4th quarter. Bell Investment Advisors Inc now owns 104 shares of the company’s stock valued at $29,000 after acquiring an additional 55 shares during the period. Sound Income Strategies LLC boosted its holdings in Marriott International by 494.4% in the 4th quarter. Sound Income Strategies LLC now owns 107 shares of the company’s stock worth $30,000 after buying an additional 89 shares during the last quarter. Darwin Wealth Management LLC acquired a new stake in Marriott International in the 3rd quarter worth about $33,000. Finally, Wingate Wealth Advisors Inc. acquired a new stake in Marriott International in the 4th quarter worth about $33,000. 70.70% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Susan C. Schwab sold 1,054 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $277.48, for a total value of $292,463.92. Following the completion of the sale, the director now directly owns 4,551 shares of the company’s stock, valued at $1,262,811.48. The trade was a 18.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider William P. Brown sold 12,642 shares of the business’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $285.63, for a total transaction of $3,610,934.46. Following the completion of the sale, the insider now directly owns 30,919 shares of the company’s stock, valued at approximately $8,831,393.97. This trade represents a 29.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 31,694 shares of company stock worth $8,938,132. Corporate insiders own 12.32% of the company’s stock.

Marriott International Stock Down 2.7 %

NASDAQ:MAR opened at $237.29 on Friday. The company has a fifty day simple moving average of $279.01 and a two-hundred day simple moving average of $269.24. The company has a market cap of $65.42 billion, a price-to-earnings ratio of 28.52, a price-to-earnings-growth ratio of 3.42 and a beta of 1.58. Marriott International, Inc. has a 52 week low of $204.55 and a 52 week high of $307.52.

Marriott International (NASDAQ:MAR) last issued its earnings results on Tuesday, February 11th. The company reported $2.45 EPS for the quarter, topping analysts’ consensus estimates of $2.37 by $0.08. Marriott International had a net margin of 9.46% and a negative return on equity of 116.67%. On average, analysts expect that Marriott International, Inc. will post 10.1 EPS for the current year.

Marriott International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, February 27th will be paid a dividend of $0.63 per share. The ex-dividend date is Thursday, February 27th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.06%. Marriott International’s payout ratio is currently 30.29%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. The Goldman Sachs Group lifted their price objective on Marriott International from $280.00 to $314.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Barclays decreased their target price on shares of Marriott International from $287.00 to $283.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 12th. Truist Financial lifted their price target on shares of Marriott International from $277.00 to $308.00 and gave the company a “hold” rating in a research report on Wednesday, February 12th. UBS Group lifted their price target on shares of Marriott International from $294.00 to $301.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. Finally, Mizuho lifted their price target on shares of Marriott International from $246.00 to $293.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. Thirteen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $286.45.

About Marriott International

Marriott International, Inc engages in operating, franchising, and licensing hotel, residential, timeshare, and other lodging properties worldwide. It operates its properties under the JW Marriott, The Ritz-Carlton, The Luxury Collection, W Hotels, St. Regis, EDITION, Bvlgari, Marriott Hotels, Sheraton, Westin, Autograph Collection, Renaissance Hotels, Le Méridien, Delta Hotels by Marriott, Tribute Portfolio, Gaylord Hotels, Design Hotels, Marriott Executive Apartments, Apartments by Marriott Bonvoy, Courtyard by Marriott, Fairfield by Marriott, Residence Inn by Marriott, SpringHill Suites by Marriott, Four Points by Sheraton, TownePlace Suites by Marriott, Aloft Hotels, AC Hotels by Marriott, Moxy Hotels, Element Hotels, Protea Hotels by Marriott, City Express by Marriott, and St.